Forex Flash: Next USD/JPY technical target at 84.15 - FXWW

By FXstreet.com | December 12, 2012 AAA

FXstreet.com (Barcelona) - While recent trading in Asia has been like watching your screen and wondering whether the market is open at all (10-15 pips range has been the norm), this may be about to change for today, says FXWW founder Sean Lee, who expects we may see "a bit more volatility today now that we are trading at fresh levels in many of the major pairs" he writes.



One of the pairs Sean focus on is the USDJPY, which tripped stops above 83.00, in what the analyst defines as a show of strength by the Yen bears. In words of Mr. Lee, "the market is supposedly extremely short of Yen already, but it's certainly not trading that way", adding that "the next obvious technical target is a daily high at 84.15 and if we can test that level before Sunday's Japanese election then the Yen bears really are completely in charge."



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